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RE: Ledger Live All-in-One app released for Ledger Nano S 🔐💻
Great! I've been waiting for this since it was annouced! No more switching between different Chrome apps... that was a bit of a pain. I'm going to check it out tomorrow!
Hang on, why do you need several Ledgers? You can just remove the apps, and then reinstall them when you need access to the particular chain. Unless, you are a trader and doing that a few hundred times a day...
Yeah, well, let's say I like convenience and am a bit paranoid - I like to log in and check my balances often. So installing/reinstalling is a little bit too much effort for me.. I prefer to keep them ready to go.
Also I did it to spread the risk between multiple ledgers. In case of a burglary or otherwise I can give them one, and keep the other ,etc. But that tactic doesn't work if I want it all accessible through a single app of course
For backup, I have left one on the other side of the planet with my brother. I prefer to keep them seperate physically. Also, for security, you could also use the 24 + 1 option for the seed words. That way, you give access to the 24 seeds, which unlock a certain set of wallets. But the deeper 24 + 1 set are hidden still and plausibly deniable. The extra seed word is one that is chosen by youself, and so it can be complete nonsense to anyone else.
Yep, I know, I use the 25th word as well :)
Let's just say that ever since I started taking security seriously, I started taking security seriously :)
So multiple ledgers, multiple accounts, and all that.
Also, another reason to own multiple ledgers is to have a back-up one ready in case you spill coffee on the first, or otherwise. I had to wait two months for my ledger to arrive the first time and I didn't want to risk being locked out of my funds for two months (I know I can restore outside of the ledger but I really don't want to)
Wow, serious security then!
I mostly use the Ledger to lock up funds away from temptation to do day trades. The hassle of reinstalling apps actually was a positive as it was an annoyance that stood against easy access! I
With the amount of coins and stashes I have, I would worry that I'd forget there is a wallet on one of the devices at some point... ! I have a tendency to be a bit forgetful and with a potential long lasting bear market I wouldn't trust my mind with it!
Last time the bear market took two years and it was only a miracle that I remembered my Bitcoin keys. Of course the amount of money it was worth was a lot less, so much less that I never even bothered with it in the meantime.. but still.